Mahindra & Mahindra has been able to hold its leadership position for the last three years. In the year 2014-15, the company sold 96,995 units leaving behind the close competition Tata Motors which sold 90,116 units.

The company's Farm Equipment Sector (FES) also witnessed negative sales for the month of November 2016. While, its domestic sales went down by 24 percent, exports posted healthy performance at 50 percent.

He said, "as of now, luxury has not been defined. So, I do not have any take or any understanding in terms of what is likely to be the stress above the 28 percent slab which would be applicable on the luxury vehicles."

"Instead of having warehouses in all the cities, we will look at a cluster of states where it will be easier to send goods across the country without having to make the customer wait," said Pravin Shah, chief executive (automotive) of M&M.

The launch takes the number of product offerings in Mahindra's electric vehicle portfolio to four. The electric versions of the passenger and cargo variants of the Supro join existing models e2o and e-Verito.

Dheeraj Hinduja, chairman at India’s second largest truck maker Ashok Leyland, prefers a low profile, but with managing director Vinod Dasari leaving at the end of the month, he says he’s become more “hands-on”.